Kimbell Royalty Partners, LP is a Delaware limited partnership that owns and acquires mineral and royalty interests in oil and natural gas properties across the United States. It was founded through early mineral acquisitions (dating back to activity in the late 1990s) and later took the step of becoming a publicly traded entity in February 2017.
Because Kimbell holds non-cost-bearing royalty and mineral rights, it is not responsible for drilling, operating, or maintenance costs (e.g. lease operating expenses, capital expenditures, plugging) on the wells underlying its interests; it instead collects royalties and other payments as production occurs. Its revenue sources include royalty income, lease bonuses, and similar contractual payments tied to production of oil, natural gas, and natural gas liquids (after deducting post-production costs, taxes, etc.).
Kimbell’s asset footprint is extensive: it owns interests in over 17 million gross acres spanning 28 states and holds stakes in more than 131,000 wells, with a particularly large presence in the Permian Basin (over 52,000 of those wells being in that basin). Its portfolio covers nearly all major U.S. onshore basins (e.g. Permian, Mid-Continent, Eagle Ford, Bakken/Williston, Appalachia). The scale and geographic diversity reduce the reliance on any single region or operator, giving Kimbell flexibility in its acquisition strategy.